DENVER, CO – CBRE announced the sale of Bonnie Jean Apartments at 661 Pearl St., Denver for $ 2.1 million to Strat Ventures, a forward-looking real estate investment firm that procures, acquires and operates multi-family and mixed-use assets and develops Denver and the surrounding sub-markets. Robert Bratley with CBRE represented the seller, a confidential investor.
“The walkability of this property is almost unparalleled. The sought-after restaurants, grocery stores, and boutiques are just blocks away,” said Bratley. “This building is in excellent condition with a high parking quota and offers significant opportunities to invest in the renovation of the units to meet the growing demand in the region.”
Built in 1957, the Bonnie Jean Apartments comprise 11 residential units with an average size of 505 square feet. Amenities include on-site laundry facilities, lockers, off-street parking, and secured bike storage.
“This is considered an add-on to the Elaine Apartments at 1424 Pennsylvania Street, which we acquired in late 2020,” said Spencer Pariser, CEO and co-founder of Strat Ventures. “As an investor, years of experience analyzing key demographic data and studying market and cultural trends have enhanced our approach so that we can better identify and capitalize on such opportunities in the market. We look forward to expanding our portfolio here in Colorado with additional well-located apartment buildings on an attractive basis. “
Located less than a mile from downtown Denver in the Governor’s Park area, Bonnie Jean Apartments are ideally located near Trader Joe’s and a range of local restaurants including Carboy Winery, Angelos Taverna, Odyssey Italian, Luca and Vesper Lounge.
This property is the second addition to the Strat Ventures Front Range portfolio since entering the market last year.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment company (based on 2020 revenue). The company employs more than 100,000 people who serve customers in more than 100 countries. CBRE serves a wide variety of clients with an integrated suite of services including facilities, transaction and project management. Property Management; Investment management; Evaluation and evaluation; Real estate leasing; strategic advice; Real estate sales; Mortgage and development services. Please visit our website at www.cbre.com
About Strat Ventures: Founded in 2020, Strat Ventures is a real estate investment firm that sources, acquires, operates, and develops multi-family and mixed-use assets in Denver and the surrounding submarkets. Leveraging a deep understanding of market and demographic trends, Strat Ventures transforms real estate into desirable, high performing assets that add value to neighborhoods while executing the most profitable asset business plan. More information is available at www.stratventures.com